Could the new companies not simply be an investment vehicle for the new owners to put their cash into the bulls?

One thing I am really struggling to understand here is why the bulls should give any money back to OK full stop. If I buy all the shares in a local business and that businesses share price drops then the loss is on my hands. If I put money into that company that would be an investment to turn the company around as the sole shareholder not a loan. If it failed and I decided to cut my losses and sell the company I would get market value for it and wouldn't later come back and day oh by the way see that £900k I put in to try put the company right can I have it back please.

I suppose the loan could have been converted into shares, but that would have undoubtedly meant Omar was still the biggest shareholder - the position he wanted to leave. To the best of my knowledge the money was left as a loan and loans - unlike shares- come with an obligation to repay.

I reckon not, I don't really understand where Omar has managed to pull £900k from in the first place his businesses don't strike me as the type of companies which turn over enough to fund this. I don't buy the mortgaging of properties either as no businessman in their right mind would borrow against personal assets to fund a club he knew (which he must have at the point he went in the t&a) he would be pulling out of. Especially when you consider the risk implications of property vs a sports club.

www.thetelegraphandargus.co.uk/s ... on_claims/ Bradford Bulls deny administration claims

www.thetelegraphandargus.co.uk/s ... on_claims/ Bradford Bulls deny administration claims

Well that's obviously a lie. I don't see how the Bulls BOD can claim to know more about what's going on at the club than those fans from other clubs who post on here about how bad it is at Bradford

Maybe, just maybe the new owners have found a right pile of poo and are looking to take things forward properly and run the new company professionally - At last!

Like I said some short term pain for long term gain, the Bulls haven't been run properly for years it's to be applauded and welcomed.

Quote: Frank Whitcombe "Maybe, just maybe the new owners have found a right pile of poo and are looking to take things forward properly and run the new company professionally - At last! Like I said some short term pain for long term gain, the Bulls haven't been run properly for years it's to be applauded and welcomed.'" Dino poo if you will www.youtube.com/watch?v=O01E7xr5OuE

Quote: Frank Whitcombe "Maybe, just maybe the new owners have found a right pile of poo and are looking to take things forward properly and run the new company professionally - At last! Like I said some short term pain for long term gain, the Bulls haven't been run properly for years it's to be applauded and welcomed.'" Dino poo if you will www.youtube.com/watch?v=O01E7xr5OuE

Well, that's settled then. He couldn't possibly have raised it, if you don't "buy" it, so that means the 900K didn't materialize, we were unable to pay any wages bill or taxes since then, we presumably went bust and wound the place up. The rest of us missed all this, but I'm sure you're right, so well done you for spotting it.

How long do you think they can keep this pretence up, of still existing? Personally I hope nobody else finds out at least until the end of next season.

If we had cash so freely available where are the replacement for Bateman & L'Estrange?

Do you honestly think OK had £900k that he could sink into the bulls?

I must ask, did my username inspire yours? It is very similar to mine.

That must have been the greatest illusion since that guy on the grassy knoll, unbelievably, got away with shooting JFK ...just imagine, to [ipretend[/i to put £900k into the club and do it [iso well[/i that the new owners, who were both in admin positions at the time, are actually stating that they intend to [ipay him back[/i. Clearly, OK is either a hypnotist or a magician. Maybe he runs a 'find the lady' stall in his spare time?

For what it's worth, Heath prevaricated for a while about taking up the option for another year and it was always intended that his successor would come from the juniors and we have a few new second row/centres coming for next year - so who says Bateman hasn't been replaced?

Fair enough on the players the squad looks strong for next season. The only article I can find where a member if the board stating that Omar will be paid back was in an interview with Ryan Whitcut. This is a guy who was employed by OK and was part of the old regime so maybe felt some loyalty towards Omar. I can't see anything from the current board stating he will be paid back. Article in the t&a; www.thetelegraphandargus.co.uk/s ... lls_chief/

Fair enough on the players the squad looks strong for next season. The only article I can find where a member if the board stating that Omar will be paid back was in an interview with Ryan Whitcut. This is a guy who was employed by OK and was part of the old regime so maybe felt some loyalty towards Omar. I can't see anything from the current board stating he will be paid back. Article in the t&a; www.thetelegraphandargus.co.uk/s ... lls_chief/

Well there's a fans forum on Wednesday, why not go and ask these burning questions in person? Or does your bravery fail you when you move away from a keyboard?

I think the real issue with the £900k is perhaps being overlooked in the exchanges above.

In it's first year of operation OK Bulls needed an injection of £900k to cover its running costs (mainly wages). Ok injected these funds as a loan but if you look at from the point of view of the company ( and remember OK Bulls is a limited company so an independent legal entity from its shareholders) it was raising finance to cover existing liabilities on the basis it could repay from future cash flow ( loan, mortgage, Wonga - all essentially the same). So if you enter into an arrangement like this the assumption is cash flow will improve ( Sky money, better ST sales, higher gates) to repay the borrowing. If there is no improvement in the cash flow it goes without saying things get a bit messy.